EIB to Grant Loans to Cyprus Cooperative Bank and Hellenic Bank
The European Investment Bank (EIB) will sign new loan agreements with the Cyprus Cooperative Bank and Hellenic Bank amounting to €25 million and €40 million respectively. The loan agreements, under state guarantees, aimed at financing small and medium-sized enterprises (SMEs) and mid-cap companies in Cyprus at attractive interest rates.
According to a press release issued by the Ministry of Finance, the signing ceremony will take place next Wednesday at the Ministry of Finance in the presence of the EIB Director for Central and Southeastern Europe Anita Furstenberg and Finance Minister Harris Georgiades.
The results of the evaluation study of the implementation of the Scheme for granting government guarantees to EIB for financing SMEs and Mid-Caps in Cyprus will also be presented at the ceremony.
Source: Gold News Cyprus